At last reported count (summer 2007), the company had 300,000 users, 42 employees, $12 million in revenue, and $1 million in profit (probably 2007 numbers). The New York Times Rob Walker recently added that shoppers spent $4.3 million buying 300,000 items from the site’s sellers in November alone — a 43 percent increase over the previous month." (More on Etsy.)

We estimate that Etsy will generate at least $15-$20 million of revenue in 2008, and the company recently closed a $25+ million round with Accel at a $115 million post-money valuation. We expect the company's value is up modestly from there. Thus, we value Etsy at $125 million.